James Atkins
Editor
Editor
It’s no secret that cryptocurrency is a volatile market. So, when it comes to investing your hard-earned money, you want to be sure you’re making the right decision.
Dogecoin and Shiba Inu are two of the most popular altcoins on the market today. But which one is a better investment? Here are some key points to note:
In 2021, the Shiba Inu made history as one of the most successful cryptocurrencies ever. The Shiba Inu was introduced in August 2020 and by November 2021, it had risen by 48,000,000%.
However, things haven’t been great for Shiba Inu since then. Shiba Inu is down by over 80% from its November 2021 highs.
Even though the Shiba Inu ecosystem has been developing rapidly in recent months, the price drop is largely due to the broader cryptocurrency market.
In the realm of cryptocurrencies. Shiba Inu has recently launched a Metaverse and a layer-2 solution to assist scale and save on transaction costs.
The Shiba Inu is also gaining popularity as a payment method. This suggests that Shiba Inu’s potential as a cryptocurrency is poised to rise when the severe market cycle eases.
On the other hand, Dogecoin has been on a tear this year. The token is up by over 12,000% since January 2021. Unlike Shiba Inu, Dogecoin’s price movements have not been as correlated to the broader cryptocurrency market.
This is likely because Dogecoin’s usage is more centered around tipping and online payments. Rather than being seen as a serious investment vehicle.
Dogecoin is the first and oldest meme currency. While it was intended as a joke coin, the coin remains one of the topmost cryptocurrencies by market capitalization since 2013.
However, Dogecoin only became popular in 2020 after Elon Musk started following it. His tweets about Dogecoin caused it to surge by 12,000 percent in April 2021.
Dogecoin has been slipping in price and attempting to recover from all-time highs since January. Aside from that, Dogecoin adoption is increasing, and many major companies now accept Dogecoin payments.
Dogecoins are also being used to buy luxury goods. The Dallas Mavericks and Tesla, for example, now accept Dogecoins as payment.
Dogecoin has a reasonable chance of performing well once the market rebounds, as uptake increases. Dogecoin’s fundamentals have improved considerably, and in 2022 Dogecoin will be several miles ahead of where it was in 2020.
Both Dogecoin and Shiba Inu are excellent long-term meme bets. However, in terms of overall gains, the chances favor Shiba Inu as the most likely winner of the two. Because of its deflationary tokenomics, it’s the best. Furthermore, because SHIB has a broader ecosystem that includes the Metaverse,
Shiba Inu and Dogecoin have the potential for long-term growth, but SHIB has a better foundation. It offers a bigger ecosystem, and its deflationary tokenomics help to promote long-term value creation.
However, investors should be aware that both Shiba Inu and Dogecoin are high-risk investments. While they both have the potential to generate significant returns, investors could also lose all their capital.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
